Allspring Global Investments Holdings LLC Sells 68,979 Shares of RB Global, Inc. (NYSE:RBA)

Allspring Global Investments Holdings LLC reduced its stake in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 514,703 shares of the business services provider's stock after selling 68,979 shares during the period. Allspring Global Investments Holdings LLC owned 0.28% of RB Global worth $51,661,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RBA. Sanctuary Advisors LLC raised its position in RB Global by 5.1% during the 4th quarter. Sanctuary Advisors LLC now owns 6,188 shares of the business services provider's stock worth $563,000 after purchasing an additional 303 shares during the last quarter. Whipplewood Advisors LLC bought a new position in RB Global during the 4th quarter worth $37,000. Mn Services Vermogensbeheer B.V. raised its position in shares of RB Global by 2.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 71,400 shares of the business services provider's stock worth $6,441,000 after acquiring an additional 1,500 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of RB Global in the 4th quarter worth about $36,000. Finally, QRG Capital Management Inc. raised its position in shares of RB Global by 36.2% in the 4th quarter. QRG Capital Management Inc. now owns 3,456 shares of the business services provider's stock worth $312,000 after acquiring an additional 918 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Buying and Selling at RB Global

In other news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director now owns 5,865 shares in the company, valued at $622,687.05. The trade was a 12.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 3,700 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the transaction, the insider now owns 24,874 shares in the company, valued at $2,640,872.58. The trade was a 12.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,075 shares of company stock worth $2,007,349. Insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RBA. Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Robert W. Baird lifted their price objective on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Raymond James Financial lifted their price objective on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, National Bankshares reduced their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, RB Global currently has an average rating of "Moderate Buy" and an average target price of $114.50.

RB Global Price Performance

RBA stock opened at $105.73 on Monday. The company has a market capitalization of $19.58 billion, a P/E ratio of 52.09, a price-to-earnings-growth ratio of 3.76 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. RB Global, Inc. has a 52-week low of $70.38 and a 52-week high of $109.25. The business has a 50-day simple moving average of $104.29 and a two-hundred day simple moving average of $98.09.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Research analysts expect that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. RB Global's dividend payout ratio (DPR) is currently 57.14%.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.

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